Editor’s Note
**Editor’s Note:** This report covers the sudden closure of PJA Diamond Jewelry Company on July 17, which sparked panic among customers in Ho Chi Minh City, many of whom hold diamonds worth billions of Vietnamese dong. The situation remains fluid, and we will provide updates as more information becomes available.
PJA Diamond Jewelry Company announced it would suddenly cease operations on July 17. Dozens of customers rushed to the store in Ho Chi Minh City to inquire about exchanging their goods. Some owned diamonds worth billions of Vietnamese dong.
VietNamNet • 17/07/2026
Just 30 minutes after PJA Diamond Jewelry Company’s fan page posted the closure announcement, dozens of customers gathered in vain in front of the store on Vo Van Tan Street, Binh Thanh District, Ho Chi Minh City.
Customers are worried their diamonds may become unsellable.
KY, a PJA customer, told a VietNamNet reporter that on the afternoon of July 17, while browsing Facebook, she saw PJA suddenly post a notice stating: “The journey named PJA officially ends on July 17, 2026.” She noted that in the days prior and on the morning of July 17, the store’s fan page had been posting transaction information as if nothing was happening.
TCT is also a PJA customer. She expressed dissatisfaction, stating that if the store wanted to communicate with customers, it should not close the store and cut off social media messages and regular phone contact.
Many customers lined up waiting in front of the PJA store. Photo: Thu Ha.
T said she registered to sell a diamond ring worth about 200 million Vietnamese dong on July 14, but the store sent her a note promising payment on January 23, 2027.
According to T and other customers, the store had posted a notice and a hotline number for scheduling product inspections for resale. However, calls always went to voicemail or were not answered. Although air conditioners and other electronic devices were running inside, indicating someone was present, the store was closed and locked.
Bich Thuy, a resident of Binh Thanh District, owns a 9mm F-color VVS1 diamond ring. She said if she cannot contact the store, she doesn’t know which company would buy it. Even if she finds a buyer, she fears the purchase price could drop by 30-40%.
According to a notice posted in the store signed by Nguyen Thi Thu Ha, Director of PJA Diamond Jewelry Company, the reason for the closure was not product quality issues, but a surge in daily sales due to customer panic.
This situation caused the company to “fall out of control, leading to serious disruption of PJA’s cash flow and business operations.”
TCT spoke to reporters about the irregularities before PJA’s closure. Photo: Thu Ha.
The announcement stated that the company would cease operations on July 17 and end individual product exchange services for customers. PJA is reviewing its financial data and debt situation to proceed with business dissolution and bankruptcy procedures in accordance with the law.
Customers wishing to trade in their terminals should call the hotline to make an appointment and visit the office by August 30 to apply for the trade-in. Applications after this date will not be accepted.
A VietNamNet reporter called the hotline number listed in the announcement multiple times but could not reach a PJA representative.
Later that afternoon, reporters observed that several diamond stores around An Dong Market and on streets specializing in gold, silver, and gems in the old District 1 area, including Kim Ly, Ngoc Tam, Ngoc Chau Au, Trinh Tam, and Kim Kiet Diamond, were closed.
Even stores that remained open saw significantly reduced foot traffic. There were often only staff and security guards present, with few customers.
Source: https://vietnamnet.vn/cua-hang-kim-cuong-bat-ngo-dong-cua-khach-hang-lo-ket-tai-san-hang-ty-dong-2536733.html